The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in particular. A particular emphasis is put on...

This article argues that welfare state restructuring, which is highly unpopular among voters, is politically feasible if government and opposition parties collude informally with each other. Contrary to key arguments made in the literature, restructuring does not require the formation of a...

This legislative analysis examines the arguments for and against reducing the COLAs for social security and other federal retirement and disability programs, with particular attention to the administration proposal and the policy that was passed by the Senate in May 1985. 

Over the last few months there has been an intensive public debate about the pension reform of the grand coalition, which came into effect on July 1st. Reform projects in other policy areas - e.g. labour market policy, policy on gender equality or family policy - caught much less attention in...

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where...

This legislative analysis examines the arguments for and against reducing the COLAs for social security and other federal retirement and disability programs, with particular attention to the administration proposal and the policy that was passed by the Senate in May 1985.�

Important changes are now underway to Canada Pension Plan “adjustment factors” that will increase the penalty for those who retire before age 65, and will raise the amount of additional CPP benefits available for those who delay retirement beyond 65. The new pension adjustment factors have...

Expectations for investment returns play an important role in establishing business capital cost and capital structure, as well as influencing individual savings behaviour, risk-taking, and long-term funding of institutional obligations such as pensions. Proper and realistic forecasting makes...

The Treasury has, at times, suggested giving greater consideration to reforms to narrow the Saving-Investment gap. However, there has been less discussion of specific policy options for doing this. This paper helps to fill the gap by asking what policy reforms could help to narrow the...